The proposed agreement has Washington D.C.-based Anton Airfood Inc. inking a 15-year lease for 6,635-sf in the pre-security area, which open to the general public. Anton would spend upwards of $2 million on tenant improvements and pay rent equal to 8% of the restaurant's annual gross sales. Construction would begin this summer and the restaurant would open in November.

Anton would operate the grill under a licensing agreement with Portland-based McCormick and Schmick Management Group, which operates a few dozen restaurants around the nation. In the Portland area, the company operates two McCormick & Schmick's branded locations, two Jake's branded locations and two more under the name McCormick's Fish House & Bar.

The agreement is the conclusion to an effort that the Port began in 2001 with a Request for Proposals to select an operator for a new facility to be built in the in-fill portion of the Terminal Expansion South, Phase III. Five proposals were received and evaluated by a committee of Port staff, outside consultants and an airline representative. Anton, which currently operates 104 restaurants in 15 airports nationwide, was selected for its experience and for the "distinct local flavor" of the McCormick and Schmick's concept.

Anton's facility will be the first McCormick and Schmick's Grill to be located in an airport. The grill will be located at the south end of the Oregon Market, near the south security check point. For the first two years, rent will be equal to 8% of gross sales. A minimum annual guarantee, based on 80% of the gross sales for the second full lease year, will become effective in the third year of operation. Rent thereafter will be 8% of gross sales or the minimum annual guarantee, whichever is higher. Anton expects to spend $2.24 million on tenant improvements, with the Port kicking in another $400,000.